This week I wanted to address an issue that all of us deal with in one way or another…MONEY! Since being laid off, I have been paying much more attention to our family spending habits. I have been reading many articles and researching books to educate not only myself on money matters, but also my husband so that we can go about our money dance with the same information and knowledge. The following is a quote that I would like to share by William A. Ward:
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give.
Listening, thinking, earning, investigating, waiting, forgiving, trying, saving, and giving all relate to mindfulness. If we remain on autopilot, our financial habits will never change. It is similar to any other aspect in that we need to be aware in our spending moments and look at what we consume.
Observing how we earn our money is another important factor. Money is being earned while we are doing the job…not when we receive our paycheck. What does an hour of working provide? The first steps to recognizing your finances are acknowledging your income and tracking your spending. If we are more conscious about what we earn, we can learn to be more conscious about what we spend. Earning money should provide for living expenses and to enjoy leisures in life.Some questions to ask how you tango with money:
- When dealing with money do you feel anxiety?
- Do you know your “true” debt?
- Do you know what you made in the last 30 days?
- Do you know what you have spent in the last 30 days?
- Do you impulse spend?
- Do you keep track of your spending?
- Do you use credit cards when you can’t afford something?
- How do you cover expenses that come up unexpectedly?
I think that many of us need to really look at what our necessities are and what satisfies our living expenses and leisure. Being aware of what we are actually spending day to day and developing conscious money habits will allow us to face and accept money issues and lead us to a healthy financial relationship with our money.
Do you have an financial books you can recommend that have helped you become more mindful with your money? What steps have you taken to start your journey to financial freedom?